Manufacturing activity in the region continued to grow but remained subdued, according to results from the December Manufacturing Business Outlook Survey. The survey’s broad indicators were positive, but their movements were mixed this month: The general activity and shipments indicators fell from their readings last month, while the indicators for new orders and employment increased. The firms remained generally optimistic about future growth.

The diffusion index for current general activity decreased from 12.9 in November to 9.4 this month, its lowest reading since August 2016. Over 26 percent of the manufacturers reported increases in overall activity this month, while 17 percent reported decreases.